I let navy collapse into sleaze (8)

I believe the answer is:

venality

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'sleaze' is the definition.
The answer and definition can be both human attributes as well as being singular nouns.
Maybe there's a link between them I don't understand?

'i let navy collapse' is the wordplay.
'collapse' indicates anagramming the letters.
'i'+'let'+'navy'='iletnavy'
'iletnavy' anagrammed gives 'VENALITY'.

'into' acts as a link.

Can you help me to learn more?

(Another definition for venality that I've seen is " Willingness to be persuaded by corrupt means".)

I've seen this clue in The Guardian.

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